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The Rise of Kleptocracy: Laundering Cash, Whitewashing Reputations

Published on Jan 1, 2018in Journal of Democracy3.67
· DOI :10.1353/jod.2018.0003
Alexander Cooley14
Estimated H-index: 14
,
John Heathershaw11
Estimated H-index: 11
,
J. C. Sharman18
Estimated H-index: 18
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Abstract
A growing body of analysis has explored how kleptocrats systematically capture and loot their domestic state institutions, but scholars and policy makers have paid less attention to how globalization enables grand corruption, as well as the laundering of kleptocrats' finances and reputations. Shell companies and new forms of international investment, such as luxury real-estate purchases, serve to launder the ill-gotten gains of kleptocrats and disimbed them from their country of origin. Critically, this normalization of "everyday kleptocracy" depends heavily on transnational professional intermediaries: Western public-relations agents, lobbyists and lawyers help to recast kleptocrats as internationally respected businesspeople and philanthropic cosmopolitans. The resulting web of relationships makes up a "transnational uncivil society," which bends global-governance institutions to work in its favor.
  • References (6)
  • Citations (3)
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References6
Newest
Published on Apr 3, 2018in Central Asian Survey
Navruz Nekbakhtshoev (UIndy: University of Indianapolis)
Published on Sep 22, 2015
Gabriel Zucman10
Estimated H-index: 10
,
Teresa Lavender Fagan1
Estimated H-index: 1
,
Thomas Piketty40
Estimated H-index: 40
We are well aware of the rise and dominance of the one percent as the rapid growth of economic inequality has seen the majority of the world's wealth held in the pockets of fewer and fewer. One much-discussed solution to this imbalance is to significantly increase the rate at which we are taxing the wealthy. However, an enormous amount of the world's wealth is hidden in tax havens, in countries like Switzerland, Luxembourg, and the Cayman Islands, so it can't be fully accounted for and taxed fai...
Published on Apr 30, 2014
John Heathershaw11
Estimated H-index: 11
,
Alexander Cooley14
Estimated H-index: 14
Uzbekistan’s ailing President Karimov maintains an iron grip on power despite internecine strife within his family. In Turkmenistan, hopes that the death of Turkmenbashi (Saparmurat Niyazov) in 2006, might lead to reform under his successor President Berdimuhammedov have been largely disappointed. Tajikistan’s remarkable recovery from brutal civil war in the 1990s has seen President Rahmon defeat all prospects for liberal reform, and suppress its latent conflicts under a consolidated patronage r...
Published on Mar 24, 2014
G FindleyMichael18
Estimated H-index: 18
,
Daniel L. Nielson16
Estimated H-index: 16
,
J. C. Sharman18
Estimated H-index: 18
Preface 1. Introduction 2. Explaining the global shell game 3. Overall compliance, tax havens, OECD and developing countries 4. Corruption and terrorism 5. Laws and standards 6. Penalties, norms, and US origin 7. Conclusion References Appendices.
Cited By3
Newest
Published on Jan 11, 2019in Post-communist Economies0.98
Alexander Cooley14
Estimated H-index: 14
(Columbia University),
John Heathershaw11
Estimated H-index: 11
(University of Exeter)
Published on Jan 16, 2019in Public Administration Review4.66
David Jancsics7
Estimated H-index: 7
(SDSU: San Diego State University)
Published on Jan 1, 2019
Chester A. Newland9
Estimated H-index: 9
(SC: University of Southern California),
Demetrios Argyriades4
Estimated H-index: 4
(CUNY: City University of New York)
At the dawn of the 2018 New Year, Chief Strategist R. Sharma of Morgan Stanley Investments looked to the recent past, asking a probing question: “Why Experts get it wrong all the time?” (Sharma, “Why Experts Get It Wrong All the Time” The New York Times, December 31, 2017: SR2). After a Great Recession, which hit large swaths of the world, a likewise sharp recovery currently raises questions, with markets hitting the roof, only to self-correct days later. What makes some people wonder is the rel...
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